© Reuters.
Valiant Laboratories, a company specializing in paracetamol production, has made a successful debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) today, with its initial public offering (IPO) managed by Unistone Capital Pvt. The IPO has been oversubscribed, drawing substantial interest from various investors.
The proceeds from this IPO will be directed towards funding a specialty chemicals facility in Gujarat. This facility is under the banner of Valiant Advanced Sciences Pvt., and is expected to have an annual capacity of 9,000 metric tons.
The investment in this facility comes at a time when the paracetamol active pharmaceutical ingredient (API) industry is witnessing growth. The industry is projected to expand at a compound annual growth rate (CAGR) of 5-7% between fiscal 2023 and fiscal 2027. This growth is largely driven by domestic formulation manufacturers and export markets.
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